Wine, import beer boost Constellation

WilliamSpain

CHICAGO (MarketWatch) - Brisk sales of branded wine and imported beers, along with an acquisition, helped Constellation Brands push its fiscal second-quarter top-line up 15%, although profit edged a more modest 2.2% higher.

After the close of trading, Constellation
STZ, +1.08%
said it earned $82.4 million, or 34 cents a share, up form 2.2% from $80.6 million, or 35 cents a share, in the year-ago period.

Revenue at the Fairport, N.Y.-based wine and beer producer came in at $1.19 billion, up from $1.04 billion last year. For the second quarter, Constellation's wine sales totaled $800.2 million, up 19 percent - with the help of its buyout of Mondavi.

Beers and spirits sales were $391.7 million, a 7% increase over the prior year period with the help of volume gains at the company's Modelo, St. Pauli Girl and Tsingtao brands, the company said.

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